Mr. Mark Sumner reports
DAURA GOLD UPSIZES PRIVATE PLACEMENT TO $7,000,000
Due to strong investor interest, Daura Gold Corp. is upsizing its previously announced non-brokered private placement.
The company will offer up to 28 million units by way of a non-brokered private placement at a price of 25 cents per unit for gross proceeds of up to $7-million. Each unit will consist of one common share of the company and one-half of one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share of the company at a price of 37.5 cents for a period of 24 months following closing of the offering.
The company expects to utilize the proceeds of the offering for advancement of its exploration land package in the Ancash department of Peru, including the company's flagship Antonella project and the Yanamina project 40 kilometres north of Antonella and for general working capital purposes.
Daura's president, Mark Sumner, commented: "We are very grateful to those who have supported us in this upsized, oversubscribed private placement, which has significantly exceeded $7-million. It was very gratifying to see the confidence and support investors have shown in Daura. As stated before, this oversubscribed offering puts Daura in a strong position to advance and accelerate our work and community programs across Daura's projects. We would like to thank all of those who subscribed and look forward to Daura's next phase of growth."
In connection with completion of the offering, the company will pay finders' fees to eligible third parties which have introduced subscribers to the offering. All securities issued in connection with the offering will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. Completion of the offering remains subject to the approval of the TSX Venture Exchange.
About Daura Gold Corp.
Listed on the TSX Venture Exchange, Daura is advancing high-impact exploration projects in Peru's renowned Ancash region. Daura owns a 100-per-cent undivided interest in over 13,000 hectares of exploration concessions in Ancash, including the 900-hectare Antonella target, which is the primary focus of Daura's current exploration efforts.
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